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A slow start for mergers & acquisitions in 2018

Wednesday, April 18, 2018

Romania’s merger and acquisitions market has reached EUR 258 in the first quarter of 2018, a significantly lower amount compared to the same period of last year, according to an analysis by Deloitte Romania cited by business-review.eu. However, considering transactions with undisclosed amounts, the total value of the M&A market looks similar to the same period of last year, reaching between EUR 500 and 600 million. Deloitte officials say that despite the slow start ...

Advent International enters into exclusive negotiations to acquire Zentiva, Sanofi’s European generics business

Wednesday, April 18, 2018

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Advent to invest in Zentiva to create a new, independent European generics leader. Divestiture of European generics, a non-core business, is part of Sanofi’s strategy to simplify and reshape the Company. Transaction anticipated before end of the year, following consultation with Sanofi employees’ representatives and subject to customary closing conditions. Advent International ...

Mitsubishi Electric Europe opens subsidiary in Romania, aims to have over EUR 10 mln in sales in 2018

Wednesday, April 18, 2018

Mitsubishi Electric Europe has launched its first subsidiary in Romania through Mitsubishi Electric Living Environmental Systems citing the favorable economic conditions and the growth of the local market, business-review.eu informs. Last year, the company recorded sales of around EUR 10 million, accounting for 10 percent of the market for air conditioning systems. For 2018, Mitsubishi forecasts additional growth of sales. Yoji Saito, president and CEO of Mitsubishi Electric ...

Romania’s Competition Council to assess takeover of Betty Ice SRL by Unilever

Wednesday, April 18, 2018

The takeover of Betty Ice SRL, the biggest local ice cream maker, by Unilever is subject to an assessment by the Romanian Competition Council, business-review.eu says.  According to a statement released by the Competition Council, the body will analyse this economic transaction to establish whether the transaction is compatible with a normal competition environment and will release a decision within the legal term. The competition council is interested in obtaining ...

Amazon ups business in Romania by 45%

Wednesday, April 18, 2018

Amazon Development Center Romania, the local subsidiary of US online retailer Amazon, reached a turnover of RON 155.6 million (EUR 34 million) last year, up by 45% compared to 2016, according to data from the Trade Registry’s Office, cited by ...

Lagardere sells its Romanian radio stations to Czech group

Wednesday, April 18, 2018

The French media group Lagardere said on Tuesday it was selling some eastern European radio assets, including its Romanian radio stations, to Czech Media Invest, controlled by energy investor Daniel Kretinsky, according to Reuters quoted by business-review.eu . The French group was selling radio assets in the Czech Republic, Poland, Slovakia and Romania for EUR 73 million. Lagardère owns in Romania three radio stations: Europa FM, Vibe FM and Virgin ...

Ford Romania posts new record production of EcoSport SUV model in February

Wednesday, April 18, 2018

US carmaker Ford recorded in February a new record high production at its Romanian plant located in Craiova, with close to 12,000 passenger cars produced, more than double compared to February 2017, Automotive Manufacturers and Importers Association (APIA) data show, business-review.eu informs. Ford’s Romanian plant produced 11,074 cars in January and 11,991 cars in February, compared to 3,536 units in January 2017 and 5,032 in February 2017. The production totaled ...

Suspended companies on foreign capital go up by 66.52% in first two months

Wednesday, April 18, 2018

The number of suspended companies running on foreign capital in Romania rose by 66.52% during the first two months of the year, compared to the same period of 2017, while the number of dissolved companies increased by 74.21%, according to the data National Council of Small and Medium-Sized Enterprises of Romania (CNIPMMR) Chairman Florin Jianu provided in a conference on Monday.CNIPMMR statistics show that during the first 3 months the legislative framework was greatly modified, ...

Farmec to invest 2.4 mln euro in upgrades, expansion

Wednesday, April 18, 2018

Romanian cosmetics producer Farmec said on Monday it plans to invest 11 million lei ($2.9 million/ 2.4 million euro) in upgrades and expansion projects in 2018, seenews.com informs. Farmec will invest mostly in upgrading and modernizing its production lines, but also in the development of its network of brand stores, both at the national and international level, it said in a statement. "We are the first and only Romanian cosmetics manufacturer to have our own brand brand ...

Romania plans to centralize acquisitions for some product categories

Wednesday, April 18, 2018

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The Romanian authorities plan to centralize the public acquisitions for IT equipment, drugs, furniture, cars, fuel and office supplies, romania-insider.com reports. Thus, a new office created especially for this, the National Office for Centralized Acquisitions (ONAC) will manage the purchase of such supplies for all public institutions in Romania, starting next year, according to a draft bill obtained ...

ArcelorMittal plans to exit from Romania-based plant

Wednesday, April 18, 2018

The Galati-based steel plant of ArcelorMittal is part of the divestment package the company proposed to the European Commission, the executive arm of the European Union. The company needs the green light from the EC as it attempts to take over an Italian steel maker. The steelmaker proposal comes amid the ongoing review of the EC into the EUR 1.8 billion bid for Italian peer Ilva. Aside from the plant in Romania, ArcelorMittal wants to sell the following assets: ArcelorMittal ...

Carrefour sees 11% sales growth in Romania in the first quarter

Wednesday, April 18, 2018

French retailer Carrefour increased its sales in Romania by 10.6%, at constant exchange rates, in the first quarter of this year compared to the same quarter or 2017, according to the group’s financial report cited by romania-insider.com. Romania was thus the fastest growing European market for Carrefour. The group’s sales in Romania reached EUR 486 million in the first quarter, getting closer to the sales in Poland, which stood at EUR 511 ...

Coface: Debts of wholesale of wood, construction materials, sanitary equipment reached the peak of the last 8 years

Wednesday, April 18, 2018

In the wholesale of wood, construction materials and sanitary equipment, 47 percent of the businesses had a net loss at end-2016, being higher than -20 percent for 14 percent and only 12 percent having a profit above 20 percent, Coface data show quoted by romaniajournal.ro. The current analysis has included the aggregate data of 6,934 businesses which submitted their financial data for 2016 and generated a consolidated turnover of RON 16.28 billion. The wholesale of wood, ...

Romaero wants to attract 1.5 billion euros in following years

Wednesday, April 11, 2018

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Romaero Bucharest, a state owned company specialised in manufacture, services and research-development in the field of civilian and military, passenger or cargo aircraft, could absorb between 350 million euros and 1.5 billion euros in the next 5-10 years, based on  partnerships concluded with suppliers of military technology, representing 8-10% of the annual average of budget allocations for supply by the Defence Ministry, according to the summon of the General ...

Eurostat: High-growth enterprises in the EU - Highest increase in Cyprus, Romania and Slovenia

Wednesday, April 11, 2018

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In 2016 compared with 2015, the number of high-growth enterprises increased by 14% in the European Union (EU). According to the preliminary data for 2016, the number of high-growth enterprises in the EU was 180 000, compared with 158 000 in 2015. These enterprises provided jobs for around 15 million employees: an increase of 13%. Between 2015 and 2016, the number of high-growth enterprises increased in 23 EU Member States. The ...

Romania’s Scandia Food snaps up Galician fish cannery Thenaisie Provote

Wednesday, April 11, 2018

Romanian canned meat maker Scandia Food took over Spanish company Thenaisie Provote, specialized in canned fish and seafood, thus the Sibiu-based canning group entering new markets in Europe and Americas, as euromeatnews.com informs quoted by romaniajournal.ro. The transaction amount was not disclosed. The negotiations ...

Romanian industry on the edge of extinction due to lack of labor

Wednesday, April 11, 2018

Workforce shortage is hitting more and more industries and now it is the turn of the milling and bakery industry to announced that needs about 8,000 people, business-review.eu informs. “But today’s youth prefer computers, offices or anything else than baker”, says ROMPAN president Aurel Popescu for Agerpres. It is not only the baker job that has no calling for the young, but also electricians, mechanics or welders and the list can go ...

Eurostat: Romania’s labor costs, the fastest growth in EU

Wednesday, April 11, 2018

Romania recorded last year the fastest growth of the hourly labor costs among the 28 European Union member states, of 15 percent up to EUR 6.3, but still ranks second-lowest in terms of wages, after Bulgaria, according to Eurostat data released on Monday, business-review.eu reports. Romania’s hourly labor costs rose from EUR 4.9 in 2015 to EUR 5.5 in 2016 and EUR 6.3 in 2017. Compared with 2004, when they amounted EUR 1.9, ...

MedLife completes Polisano acquisition, consolidates its leadership in private medicine in Transilvania area

Wednesday, April 11, 2018

MedLife has completed the acquisition of the 100 percent stake in Polisano medical services division, ranking in top 10 largest medical services providers in Romania, after the acquisition was validated by the Competition Council, as a press release informs, romaniajournal.ro reads. The new structure that MedLife will have in Transilvania consists in 5 mono and multidisciplinary hospitals; 7 tests laboratories; 8 large clinics integrating ...

Blue Air, the first Romanian airline to win the TripAdvisor Travelers’ Choice Awards

Wednesday, April 11, 2018

Romania’s Blue Air won Europe’s Best Low Cost Carrier for 2018 as part of the TripAdvisor Travelers’ Choice Awards, as a press release informs, romaniajournal.ro reads. Blue Air officials consider this award “a fantastic achievement and shows how much Blue Air passengers appreciate traveling onboard our aircraft. This is the first time a Romanian airline receives this award, and the Travelers’ Choice Award is the greatest ...

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